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Will jill need any outside capital

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Reference no: EM133074526

Question - Jill's Wigs Inc. had the following balance sheet last year:

Cash $800 Accounts payable $350 Accounts receivable $450 Accrued wages $150

Inventory $950 Notes payable $2,000 Net fixed assets $34,000 Mortgage $26,500

Common stock $3,200 Retained earnings $4,000

Total assets $36,200 Total liabilities and equity $36,200

Jill has just invented a nonslip wig for cancer patients which she expects will cause sales to double from $10,000 to $20,000, increasing net income to $1,000. She feels that she can handle the increase without adding any fixed assets. Will Jill need any outside capital if she pays no dividends and, if yes, how much?

Reference no: EM133074526

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